Not Sure How To Select Best CC Processing For Your Business? Here Is The Complete Guide To Get One!
From small business owners like a restaurant to a large retail store, every business needs to accept the cc processing to attract more repeating customers which will result in a high gain in the profits.
Credit card and debit cards are the most convenient and most preferred payment method among the trading activity with customers. Even for a business, it is more beneficial for a business merchant to accept credit card processing for small businesses as it helps them to track and monitor all the business transactions smoothly. As per experts analysis, a customer tends to buy a lot more products and services from your business when they purchase using a credit card, while in comparison to payment using the traditional cash method.
How To Select A Right Credit Card Processor For Your Business CC Processing Needs?
There are a lot of payment processors available in the industry of that provides cheapest cc processing and breaks their credit card processing costs into several factors and tries to hide them, but most of the best cc processing merchant account providers like Quadrapay share all the charges and applicable rates on transactions on their website so that you can quickly get all the quote in upfront for your business requirements.
To avoid any surprise charges on the transactions in the future. It is very important to clarify all the recurring fees applicable to the type of transactions you do in your business activity before signing the contract with a credit card processor.
- Payment Processing Equipment: There are some processors who tend to offer a free point of sale virtual terminals which works great at times. But later if you want to upgrade the equipment according to the change in the new technology of payment methods(like switching to new QR payment methods or contactless payment with credit cards, etc.), then you have to pay a lot more money to upgrade to the new point of sale equipment.
- Business Apps: Some of the processor companies offer you free applications and mobile apps to get started for smaller businesses which is new in the market. But for the high volume and risky business, the credit card processing for high-risk business software needs to be more secure and reliable with the feature of regular updates so that you always have the latest security patches to reduce the chances of any frauds or information thefts.
- Additional Fees: While going for a contract with merchant account services for high-risk cc processing, you have to clarify all the applicable and hidden charges on the type of business you trade in the market. Quadrapay provides you with all the applicable rates on the business transactions and ensures to have transparent service experience with the business merchants.
- Chargeback Fees: If a customer disputes on an order placed and refund is initiated to the client for that transaction. Business merchants have to pay additional charges to the merchant cc processing company for the chargeback. Quadrapay knows your business efforts, and that’s why we offer chargeback alerts facility with our merchant account services so that you can save a lot on your business revenue.
- Payment Gateway Charges: For a payment gateway, it is required to have PCI compliance which ensures a safe and reliable payment processing experience. There are PCI compliance charges that some processors charge with their business merchants if requirements are not met it can also generate a fine.
- Regular Maintenance Charges: CC processing companies tends to charge a regular monthly fee so that you can get timely technical support, business account and transactions management and 24*7 Customer service and support assistance.
- Flat Rate Charges: Every time a business merchant accepts payment through a credit card they have to pay a standard flat rate for that transaction fee, which is charged by the card provider company.
Types Of Payment Types Applicable For CC Processing
Most mobile cc processing companies benefit you with several types of payment methods like a card reader and a lot more customized devices which helps you in accepting credit card payments from your customer in a more convenient option.
- NFC: Nfc stands for the near field communication technology, which provides your customers to pay using a smartphone or other digital wallets. This requires you to have a contactless payment point of sale equipment so that it can transmit the radio signals and a customer can pay for your business with just a few taps on their smartphone with the help of an e-wallet application.
- Portable Card Readers: A Portable card reader is a device which gets connected with your smartphone or tablet so that you can accept mobile payments from your customer on the go! Quadrapay has android phone credit card processing solution, which is beneficial for restaurant, eCommerce industry and small scale business merchants.
- Point Of Sale Terminal: Pos systems are essential for a retail store to provide billing for the orders and accept debit card or credit card payments from the customers. It consists of a cash register, a scanner for barcodes, receipt printer and card reader machine. There are several types of pos terminal equipment available with the different pricing model, so a business merchant should opt according to their requirements.
If you still have any queries and looking for online cc processing and credit card payment solution for your business, we provide 24*7 customer support and service. You can mail us at [email protected].